Limited risk service provider analysis leads to deletion of transfer pricing adjustment and acceptance of TNMM benchmarking.

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....The Tribunal held that the assessee was a limited risk service provider because it did not own the technical know-how, simulator or infrastructure needed to render the training and technical services, while the associated enterprise bore the relevant performance and commercial risks. On that factual basis, the assessee could not be treated as the principal service provider. The Tribunal then accepted the assessee's TNMM benchmarking, noting that the same functional and risk profile had been accepted in the preceding year and that there was no material change in facts. It also rejected the TPO's reliance on confidentiality restrictions as a ground to disregard the benchmarking, and deleted the transfer pricing adjustment on technical fees paid to the associated enterprise.....